M&A cover letter: structure and example for an internship

A good M&A cover letter does more than say you are “passionate about finance”. In one page, it answers three concrete questions: why this team, why you, and why now?

The recruiter already has your CV. Your letter should add what the CV cannot easily show: the logic behind your choices, your understanding of the work and the specific reason this application has not been copied and sent to twenty banks.

A useful structure

Aim for one page, four paragraphs and roughly 350–500 words. That gives you room to make a case without losing focus.

1. A specific opening. Name the role, the period you are seeking and the team.
2. Why this bank or boutique. Refer to a transaction, a sector, team size or the firm’s positioning.
3. Why your experience is useful. Choose two experiences and connect them to an intern’s work: financial analysis, sector research, valuation, preparing materials and careful execution.
4. A simple close. Confirm your availability and suggest a conversation.

The connection between the second and third paragraphs matters most. Many applicants describe the bank well and then recite their CV. Show instead how what you have already done will help the team.

Example M&A cover letter

Dear Hiring Manager,

I am currently in the first year of a master’s degree at [school] and would like to join [company]’s M&A team for a six-month internship from January 2027. Your recent work advising [client] on [transaction] particularly interested me: it brings together [sector issue] and [financial issue], both of which I began exploring through [course, society or experience].

My internship at [previous company] taught me to work with incomplete information and to short deadlines. In particular, I [specific, quantified achievement]. Alongside this, [project or society] led me to build [model, market analysis or presentation] and defend my assumptions before [audience]. These experiences gave me a sound grounding in Excel and PowerPoint, as well as an appreciation of the careful, collaborative work a transaction requires.

I now want to learn from a team known for [verifiable distinguishing feature]. The range of your work in [sector or client type] and the exposure given to interns match what I am looking for: understanding the industrial logic of a deal, contributing to analysis and becoming reliable in execution.

I am available from [date] to [date] and would welcome the opportunity to discuss my application and your team’s needs.

Yours faithfully, [First name Last name]

Do not copy this example word for word. The prompts are useful because they require you to find real information and select evidence from your own experience.

How to personalise it without spending two hours

Start with ten minutes of focused research: the bank’s transactions page, recent announcements, team profiles and the job description. Note just three things: one deal, one aspect of the firm’s positioning and one required skill.

Then choose one transaction. You do not need to analyse it as you would in an interview. One sentence can show that you understand its significance: market consolidation, international expansion, a carve-out, refinancing or a strategic combination. Avoid calling every transaction “prestigious” or “complex” without explaining why.

For your own experience, replace adjectives with evidence:

• “Detail-oriented” becomes “I checked and reconciled 1,200 rows of data”.
• “Interested in finance” becomes “I built a comparable-company valuation of…”.
• “Team player” becomes “We divided the analysis of five competitors and presented a joint recommendation”.

Preparing for interviews too? Read our complete guide to securing an M&A internship and M&A interview preparation guide.

Mistakes that weaken an otherwise good letter

The first is false personalisation: changing only the bank’s name. The second is excessive jargon. A letter is not a finance exam; putting “DCF, WACC, LBO, accretion/dilution” in the same sentence proves little. The third is inventing an affinity with the firm’s culture. If you cannot support a claim, stick to facts.

Check details that automated proofreaders may miss: the entity’s exact name, the job title, dates, grammar and salutation. A letter for a “consulting internship” sent to a Financial Advisory team immediately suggests a mass application.

Should you include a letter if it is optional?

Include one when it adds useful information: a change of direction, an unusual timetable, a strong sector interest or an application to a small team. Leave it out if it merely repeats your CV. A short, genuinely tailored application message may be more useful in that case.

On Screeningpass, you can browse finance jobs and tailor your application to the role you choose.

Frequently asked questions

Use a name or “Dear Hiring Manager”?

Use a name only if you are sure who the person is and what role they have in recruitment. Otherwise, a general salutation is better than an incorrect name.

Write in English for an English-language posting?

Yes, unless instructed otherwise. Follow the language of the posting. Avoid translating French formalities literally: an English cover letter is often more direct.

Can I mention a confidential transaction from an internship?

No. Describe the sector, the type of analysis and your contribution without identifying the client or revealing non-public information.